The AUDUSD pair opens today’s trading with strong decline affected by the negative Australian economic data, to approach from our main waited target at the bullish channel’s support at 0.7555, reinforcing the expectations of declining on the intraday basis.
Therefore, we will keep the temporary bearish trend scenario supported by stochastic negativity, reminding you that we are waiting a bullish rebound after touching the mentioned level, to resume the main bullish wave on the short term basis, while we should note that breaking 0.7555 followed by 0.7515 levels will push the price to suffer more losses on the longer term basis.
Expected trading range for today is between 0.7515 support and 0.7720
Expected trend for today: Bearish
Origin: Economies
